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what is the full form of GDP,GDP full form,GDP

GDP Full Form IS:- Gross Domestic Product

GDP stands for Gross Domestic Product. it's the whole market price of all the productsproduct and services made at intervals a rustic in a very specific length of your timeit's wont to live the scale of AN economy and overall growth or decline within the economy of a nation. It indicates the economic health of a rustic moreover as specifies the living customary of the individuals of a selected country, i.e. because the GDP will increase the living customary of the individuals of that country will increasea rustic having smart GDP is taken into account as an honest country for living purpose. In India, there area unit 3 main sectors that contribute to GDP; trade, service sector and agriculture as well as allied services.

History of GDP

The basic thought of GDP was given by William Petty to defend landlords against unfair taxation between the Dutch and therefore the English between 1652 and 1674. Later, this technique is more developed by Charles Davenant. Its fashionable thought was initial developed by economist in 1934. once the Bretton Woods conference in 1944, it became the most tool to live the economy of a rustic.

How to calculate GDP

There area unit several approaches to calculate GDP. If we have a tendency to point out a straightforward approach, it's capable the whole of consumption, gross investment and government outlay and the worth of exports, minus imports.

what is the full form of GDP,GDP full form,GDP what is the full form of GDP,GDP full form,GDP Reviewed by Debasish on December 25, 2019 Rating: 5

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